Bristol Myers Climbs, Adobe Drops, Salesforce Gains as BofA Raises to Buy on AI Strategy

On this episode of Stock Movers:

- Bristol Myers (BMY) shares climb. Bristol Myers Squibb Co.’s experimental drugs for treating a rare endocrine cancer and a deadly form of lung disease showed promise in late-stage studies, a potential boon for the pharmaceutical company’s new product pipeline. Wall Street has been eagerly anticipating both results, as the drugs use novel approaches for hard-to-treat conditions that impair patients’ quality of life and are eventually fatal. 

- Adobe (ADBE) shares drop. Wells Fargo Securities downgraded the maker of software for creative professionals by two notches, to underweight from overweight. 

- Salesforce (CRM) shares gain. BofA Global Research raised the recommendation on the software company to buy from underperform, pointing to tailwinds from AI adoption.

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